Ratan Tata has invested in his personal capacity in auto classifieds portal CarDekho.com. The chairman emeritus of the $100 billion Tata conglomerate has for the first time ever joined hands with an auto portal by investing in a personal capacity, CarDekho.com said in a statement.
CarDekho however did not disclose the amount of investment. Amit Jain, CEO and co-founder of GirnarSoft the company that owns CarDekho, told NDTV that Mr Tata's will hold a minority stake in the company.
Mr Tata, an auto enthusiast, has agreed to advise the company as and when required, CarDekho said. Mr Tata has investment in many e-commerce companies in his personal capacity, including Snapdeal and Urban Ladder.
Mr Jain, 38, co-founded GirnarSoft, with his brother Anurag Jain, 36, who is the chief operating officer of the company. Both of them are alumni of IIT Delhi.
GirnarSoft recently raised $50 million funding from investors, led by Hillhouse Capital. The company also counts Tybourne Capital and Sequoia Capital among its investors. After this fund-raising, GirnarSoft was valued at $300 million.
CarDekho will invest heavily in marketing and brand building exercises, besides boosting its sales force, Amit Jain said. The company plans to add 800 employees this year. It has an existing employee base of about 1000.
Carwale.com and CarTrade.com are among the competitors of CarDekho. Last year, CarDekho had acquired another auto classified portal Gaadi.com.
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